Co-Diagnostics Advances Latin American Commercialization Strategy for Co-Dx™ PCR Pro® with Mexico Distributor Agreement

Rhea-AI Summary

Co-Diagnostics (Nasdaq: CODX) signed an exclusive distribution agreement with its longstanding Mexico partner for the Co-Dx™ PCR point-of-care platform, including PCR Pro® and related test kits. The deal extends the relationship five years and supports Latin American commercialization ahead of required regulatory authorizations.

The partner has generated over $18 million in revenue for Co-Diagnostics since 2020 through Logix Smart® PCR tests and lab equipment sales. Logix Smart COVID-19 PCR tests accounted for over 50% of Mexico’s COVID-19 tests through 2021, based on public data.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Positive

• Exclusive distribution rights for Co-Dx PCR platform in Mexico for five years
• Over $18 million revenue generated with Mexico partner since 2020
• Logix Smart COVID-19 PCR test exceeded 50% of Mexico tests through 2021

Negative

• Co-Dx PCR platform still subject to regulatory review and not yet for sale

News Market Reaction – CODX

-3.69%

7 alerts

-3.69% News Effect

-27.7% Trough in 33 hr 53 min

-$697K Valuation Impact

$18.20M Market Cap

0.0x Rel. Volume

On the day this news was published, CODX declined 3.69%, reflecting a moderate negative market reaction. Argus tracked a trough of -27.7% from its starting point during tracking. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $697K from the company's valuation, bringing the market cap to $18.20M at that time.

Data tracked by StockTitan Argus on the day of publication.

What This Means

This announcement extends CODX’s commercialization roadmap by locking in exclusive distribution for ...

Analysis

This announcement extends CODX’s commercialization roadmap by locking in exclusive distribution for the Co-Dx PCR Pro® platform in Mexico, a market where its COVID-19 test represented over 50% of usage through 2021 and generated over $18 million in revenue with this partner. Investors may monitor progress on regulatory review, uptake of non-COVID assays such as tuberculosis and HPV, and how the existing S-3 registration for 4,942,341 resale shares interacts with future capital needs.

Key Figures

Revenue with Mexico partner: over $18 million Mexico COVID test share: more than 50% Q1 2026 revenue: $0.15 million +5 more

8 metrics

Revenue with Mexico partner over $18 million Logix Smart PCR tests and equipment sales since 2020 with current distributor

Mexico COVID test share more than 50% Share of COVID-19 PCR tests in Mexico through 2021 from Logix Smart test

Q1 2026 revenue $0.15 million Q1 2026 financial results (vs. $0.05M in Q1 2025)

Q1 2026 net loss $9.1 million Q1 2026 financial results

Cash balance $8.2 million Cash as of March 31, 2026

Registered resale shares 4,942,341 shares Shares registered on Form S-3 for resale from May 21, 2026 private placement

Potential warrant proceeds $5.18 million Maximum cash CODX could receive if registered warrants exercised

Shares outstanding 3,685,314 shares Outstanding as of May 27, 2026 per S-3 filing

Historical Context

5 past events · Latest: Jun 02 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 02	Platform expansion update	Positive	+0.3%	Progress on Ebola tests and Co-Dx PCR point-of-care platform capabilities.
May 26	Partnership strategy	Positive	+79.7%	Advanced PCR assay strategy with CoSara for Bundibugyo ebolavirus.
May 19	Private placement	Negative	+28.4%	$3.0M at-the-market private placement with warrants financing structure.
May 19	Ebola assay plan	Positive	+43.8%	Completion of Bundibugyo virus assay strategy using Co-Dx PCR platform.
May 14	Earnings report	Negative	-21.2%	Q1 2026 loss of $9.1M on $0.15M revenue and $8.2M cash balance.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent company-specific news, especially around Ebola assay development and financing, has often coincided with sharp upside moves, while earnings updates saw weakness.

Recent Company History

Over the past month, CODX reported multiple Ebola assay strategy updates and progress on the Co-Dx PCR point-of-care platform, including work with joint venture CoSara and pan-Ebola testing plans. A $3.0 million private placement on May 19, 2026 and Q1 2026 results showing $0.15 million revenue but a $9.1 million net loss highlighted funding needs and ongoing investment. Today’s Mexico distribution agreement for Co-Dx PCR Pro® extends this commercialization narrative into Latin America.

Regulatory & Risk Context

Active S-3 Shelf · $5.18 million · Short Interest: 29.37%

Shelf Active

Short Interest

29.37% of float

0% 15% 30%+

high as of 2026-05-29 Days to cover: 1

Active S-3 Shelf Registration 2026-05-28

$5.18 million registered capacity

An effective S-3 registration dated May 28, 2026 covers resale of up to 4,942,341 shares from a May 21 private placement. CODX will not receive proceeds from resales but could receive up to $5.18 million if warrants are exercised for cash. No usage of this shelf had been recorded in the provided context.

Key Terms

pcr, point-of-care, hpv, mpox, +4 more

8 terms

pcr medical

"Co-Dx™ PCR point-of-care platform*, including the PCR Pro® instrument..."

PCR (polymerase chain reaction) is a laboratory method that makes many copies of a tiny piece of genetic material (DNA or RNA) so scientists can detect and study it reliably — think of photocopying a faint, tiny note until the words are easy to read. For investors, PCR matters because it underpins diagnostic tests, drug development, and biotech tools whose sales, regulatory approvals, and real-world use can materially affect company revenues and market perceptions during health events or product launches.

point-of-care medical

"Co-Dx™ PCR point-of-care platform*, including the PCR Pro® instrument..."

"Point-of-care" refers to the location where immediate decision-making or actions happen, often involving the direct delivery of services or results. In healthcare, it describes tests or treatments performed directly at the patient's side, rather than in a distant laboratory. For investors, understanding "point-of-care" highlights the convenience, speed, and potential growth opportunities of services or products that bring solutions directly to the user or patient.

hpv medical

"applications, including tuberculosis, HPV, mpox, H5N1, and a recently-announced Ebola..."

Human papillomavirus (HPV) is a family of common viruses that infect skin and mucous membranes; some types cause harmless warts while others can lead to precancerous changes and cancers such as cervical cancer. For investors, HPV matters because vaccines, diagnostic tests, screening programs, and treatments drive regulatory approvals, public health policy, and recurring revenue streams for healthcare companies—think of it as a prevalent health risk that creates ongoing demand for prevention and care products.

mpox medical

"applications, including tuberculosis, HPV, mpox, H5N1, and a recently-announced Ebola..."

Mpox is an infectious viral disease that causes fever, rash and swollen lymph nodes and spreads through close contact; think of it like a less common cousin of seasonal illnesses that can lead to local outbreaks. It matters to investors because outbreaks can change demand for medical supplies, affect healthcare and insurance costs, disrupt travel and workforce availability, and trigger regulatory or public health responses that influence company revenues and risk profiles.

h5n1 medical

"applications, including tuberculosis, HPV, mpox, H5N1, and a recently-announced Ebola..."

H5N1 is a strain of avian influenza virus that primarily infects birds but can occasionally jump to humans, often causing severe illness. Investors care because outbreaks can wipe out poultry flocks, disrupt food supply chains and trade, and drive demand for diagnostics, vaccines and emergency government support—like a fast-moving forest fire among livestock that can force businesses and regulators to take costly, rapid action.

ebola medical

"and a recently-announced Ebola assay development initiative..."

A severe viral illness that causes high fever, internal bleeding and organ failure in some patients; it spreads through direct contact with bodily fluids and contaminated objects. Investors care because outbreaks can disrupt travel, supply chains and workforce availability, boost demand for treatments and vaccines, and trigger rapid shifts in market sentiment—similar to how a wildfire can suddenly reshape the value and operations of nearby businesses.

fda regulatory

"subject to review by the FDA and/or other regulatory bodies..."

The FDA is the U.S. federal agency that evaluates and approves medical drugs, devices, biological therapies and certain foods; think of it as the gatekeeper that decides whether a medical product is safe and effective for patients. For investors, FDA decisions determine whether a company can sell a product, affect expected revenue and introduce regulatory risk, so approvals, rejections or safety warnings can quickly move a company's valuation and stock price.

schedule 13g regulatory

"A Schedule 13G filed by Jane Street Group, LLC and its subsidiaries reports..."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Longstanding distribution partner to support future deployment of Co-Dx™ PCR Pro^® and expanding menu of molecular diagnostics products across a key Latin American market

SALT LAKE CITY, June 11, 2026 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) ("Co-Dx" or "the Company"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced that it has entered into an exclusive distribution agreement with its longstanding partner in Mexico for the Co-Dx™ PCR point-of-care platform*, including the PCR Pro^® instrument and associated test kits, advancing the Company's strategy to expand its commercialization network and footprint in Latin America ahead of the platform's market launch, which remains subject to applicable regulatory review and authorization.

"We are pleased to continue building on our longstanding relationship in Mexico with a distributor that played an important role in the successful deployment of our molecular diagnostics products during the COVID-19 pandemic," said Dwight Egan, Chief Executive Officer of Co-Diagnostics. "As we prepare for commercialization of the Co-Dx PCR point-of-care platform, we believe this agreement positions us well to support the introduction of a broader menu of point-of-care molecular diagnostics products across Mexico, the second largest market in Latin America by population.

"Over the past several years, we have expanded our capabilities beyond COVID to include multiple infectious disease applications, including tuberculosis, HPV, mpox, H5N1, and a recently-announced Ebola assay development initiative, and we believe the flexibility and rapid response capability of our high-quality PCR technology will become increasingly important in global diagnostics markets."

The Company has generated over $18 million in revenue through sales of its Logix Smart^® PCR tests and clinical lab testing equipment since 2020 with this distribution partner. The previously existing partnership was also instrumental in driving adoption of the Company's Logix Smart COVID-19 PCR test, which comprised more than 50% of all COVID-19 tests used across Mexico through 2021, according to publicly available data of COVID tests performed during that period.

The agreement establishes the distributor as having exclusive distribution rights for the Co-Dx PCR platform in Mexico, and extends the existing agreement for an additional five years.

*The Co-Dx PCR platform (including the PCR Home^®, PCR Pro^®, mobile app, and all associated tests) is subject to review by the FDA and/or other regulatory bodies and is not yet available for sale.

About Co-Diagnostics, Inc.:
Co-Diagnostics, Inc., a Utah corporation, is a molecular diagnostics company that develops, manufactures and markets state-of-the-art diagnostics technologies. The Company's technologies are utilized for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). The Company also uses its proprietary technology to design specific tests for its Co-Dx PCR at-home and point-of-care platform (subject to regulatory review and not currently for sale) and to identify genetic markers for use in applications other than infectious disease.

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "believes," "expects," "estimates," "intends," "may," "plans," "will," "seeks," "anticipates," and similar expressions, or the negative of these terms. Forward-looking statements in this press release include, but are not limited to, statements regarding: (i) Future deployment of the Company's expanding menu of molecular diagnostics products across key Latin American markets; (ii) The Company's plans and expectations regarding expansion of its commercialization network and footprint in Latin America and preparation for potential future commercialization of the Co-Dx PCR platform, subject to applicable regulatory review and authorization; and (iii) that the flexibility and rapid response capability of the Company's high-quality PCR technology will become increasingly important in global diagnostics markets. Such statements are subject to a number of risks and uncertainties, including, without limitation: risks that market demand or public health conditions may change; risks related to the Company's ability to successfully introduce a broader menu of point-of-care molecular diagnostics products across Mexico and potentially other parts of Latin America; risks related to the Company's dependence on distributors and other third parties, including risks that distribution partners may not successfully market, promote, or sell the Company's products; risks associated with international operations, including changing regulatory requirements, economic conditions, reimbursement environments, import/export restrictions, and foreign currency fluctuations; risks related to regulatory review by the FDA or other regulatory authorities that would be required to achieve a successful commercial launch; risks related to the performance, reliability, and market acceptance of the Co-Dx PCR platform and other Co-Dx technology; risks associated with dependence on third parties, suppliers, collaborators, and distribution partners; risks related to competition, technological change, and intellectual property protection; and other risks described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"). Actual results may differ materially from those expressed or implied in these forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2026, and in its other filings with the SEC. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law.

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SOURCE Co-Diagnostics

FAQ

What did Co-Diagnostics (NASDAQ: CODX) announce about its Mexico distribution agreement on June 11, 2026?

Co-Diagnostics announced an exclusive distribution agreement in Mexico for its Co-Dx PCR point-of-care platform. According to Co-Diagnostics, the deal covers the PCR Pro instrument and test kits and extends the existing partnership for five years to support commercialization across Mexico.

How does the new Co-Diagnostics CODX Mexico agreement support its Latin American commercialization strategy?

The agreement designates Co-Diagnostics’ longtime Mexico partner as exclusive distributor for the Co-Dx PCR platform. According to Co-Diagnostics, this supports deployment of PCR Pro and an expanded menu of molecular diagnostics across Mexico, a key Latin American market, ahead of required regulatory authorizations.

How much revenue has Co-Diagnostics (CODX) generated with its Mexico distribution partner since 2020?

Co-Diagnostics reports generating over $18 million in revenue with its Mexico partner since 2020. According to Co-Diagnostics, this came from Logix Smart PCR tests and clinical lab testing equipment, including strong adoption of its Logix Smart COVID-19 PCR test across the Mexican market.

Is the Co-Dx PCR Pro platform from Co-Diagnostics (CODX) already approved and available for sale in Mexico?

The Co-Dx PCR platform, including PCR Pro, is not yet available for sale. According to Co-Diagnostics, the platform remains subject to review by the FDA and other regulators, and commercialization will follow applicable regulatory authorizations in relevant markets, including Mexico.

What diseases will Co-Diagnostics’ Co-Dx PCR platform target in Mexico under the new CODX agreement?

The Co-Dx PCR platform is intended for multiple infectious disease applications, beyond COVID-19 testing. According to Co-Diagnostics, capabilities include tuberculosis, HPV, mpox, H5N1, and a recently announced Ebola assay initiative, supporting a broader point-of-care molecular diagnostics menu in Mexico.

How widely were Co-Diagnostics’ Logix Smart COVID-19 PCR tests used in Mexico before the new CODX deal?

Logix Smart COVID-19 PCR tests represented more than 50% of COVID-19 tests used across Mexico through 2021. According to Co-Diagnostics, this share is based on publicly available data for COVID tests performed during that period with support from its Mexico distribution partner.